Wedding business Confetti in administration
19 August 2010 09:33
Retail and online weddings firm Confetti has collapsed into administration with the loss of 94 jobs. The company was sold only four days ago to The Hut Group, which also acquired online business iwantoneofthose.com.
The firm's collapse leaves some 1,100 outstanding orders in jeopardy.
Founded in 1999, Confetti now has turnover of around £5.7 million. Administrators RSM Tenon plans to sell the firm as a going concern but has already closed five stores. RSM will retain 46 employees to support the online business.
Joint administrator and RSM Tenon director, Kenny Craig, said: "Confetti is a very high profile market leading online brand and enjoys a large customer base.
"The business has great potential for further development and the administration presents an outstanding opportunity for a retail business or entrepreneur to acquire an immediate presence in the wedding and celebrations market.
"We would urge interested parties to make contact in the next day or two to ensure they have a chance to bid for the business."
Retail news is updated every weekday and is provided courtesy of: 
